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Search Results 0 to 7 of about 8 (some duplicates have been removed)
Dec 4, 2013 3:00pm PST
those benefits, adopted a multimillion dollar tax cut for multinational corporation within that state. so the state is not impoverished. the state is choosing priorities that are different than the citizens have chosen by adopting a constitutional protection of pension benefits. >> woodruff: andrew biggs what about that, and what about the bigger picture here, that the blame, that if there is going to be pain, the pain should be spread, that it shouldn't be mainly or even in large part these people who have worked so hard for these cities. >> uh-huh. i suspect in the case of detroit, it's not going to be mainly or in large part on the pensioners, it going to be mostly on the bondholders who are going to get hit much more. i mean steve is right when he cites the average benefits people receive from pensions. that includes a lot of people who spent a few years in public employment and are getting very small benefits. if you are somebody who spent a full career working for the city of detroit, you would retire with a benefit equal of around two-thirds your final salary. would you h
Dec 6, 2013 3:00pm PST
, and the earned income tax credit to get by at a cost of nearly $7 billion a year to taxpayers. that's compares to 25% of the overall workforce who depend on such programs. as workers from wendy's to wal- mart call for a living wage. >> hold the burgers, hold the fries, we can't survive on $7.25. >> reporter: others are calling on congress to increase the federal minimum wage-- now $7.25 an hour-- and last raised in 2009. >> if you work hard, you should make a decent living. >> reporter: that includes president obama, who spoke wednesday about inequality at the left-leaning center for american progress. >> we all know the arguments that have been used against a higher minimum wage. some say it actually hurts low- wage workers; business will be less likely to hire them. there's no solid evidence that a higher minimum wage costs jobs, and research shows it raises incomes for low-wage workers and boosts short-term economic growth. ( applause ) >> reporter: not everyone buys those arguments. in downtown washington's freedom plaza, where skateboarders took advantage of unseasonal warmth thi
Dec 3, 2013 6:00pm PST
take the tax revenue that comes into the city of detroit and put it back into the services like police, the police department like the fire department and making sure the fire rigs are working when they are called out to a fire and picking up trash and making sure the lighting grid is up and running and working streetlights in the neighborhoods in the city of detroit, so what that is going to do, when you bring down the debt and you bring it, you erase it and you start with that clean slate you will be able to infuse money back into the city of detroit, back into the services and really make detroit a better place to live and that is the bottom line in in story. >> a big day, in the life of your city, detroit. christy mcdonald, we thank you very much. >> thanks, judy. >> >> woodruff: again, the other major developments of the day. president obama touted the benefits of the affordable care act in a bid to shift the focus from problems with and policy cancellations. vice president biden arrived in japan and rebuked china for imposing an air defense zone over disputed islan
Dec 2, 2013 6:00pm PST
taxes. the justices turned away appeals from amazon and after they lost a case in new york state. in the absence of a national ruling, more states may try to tax sales on the internet. a new york commuter train was doing 82 miles an hour when it hit a sharp curve and derailed sunday, killing four people. the speed limit there is 30 miles an hour. investigators from the national transportation safety board announced the findings today from the train's two data recorders. they said it's clear what the train was doing, but not why. >> the locomotive had an event recorder, the cab car had an at in point in time it is preliminary but we can say here's what happened. we know speeds and positions, power settings and brake application. we don't know whether the brakes -- went to zero pressure because of a valve change or because of the train breakup. >> woodruff: the wreckage on the track meant some 26,000 commuters had to find alternative routes today. the government's health care website is hitting on more cylinders. white house officials say it handled 375,000 customers by
Search Results 0 to 7 of about 8 (some duplicates have been removed)